New Delhi: Yamaha Motor India on Tuesday announced that it will pass on the complete benefits of the recent GST rate cut on two-wheelers to its customers from September 22.With this, Yamaha joins other major players like TVS, Bajaj Auto and Royal Enfield, which had already confirmed that they will extend the full benefit of the tax cut to buyers.The GST Council, in its 56th meeting, had reduced the tax rate on internal combustion engine (ICE) two-wheelers from 28 per cent to 18 per cent.
This decision is expected to make motorcycles and scooters more affordable ahead of the festive season, giving a boost to demand.India Yamaha Motor said its models, including the R15, MT15, FZ series, Aerox 155, RayZR and Fascino, will see price cuts of up to Rs 17,500.Chairman Itaru Otani thanked the government for the “timely reduction” and said Yamaha is happy to pass on the full benefits to customers.
TVS Motor Company also confirmed that all popular motorcycles such as the Apache, Ronin, Raider, and Sport, along with scooters like Ntorq, Jupiter and Zest, will become cheaper from September 22.However, prices of its electric vehicles, including iQube, Orbiter and TVS X, will remain unchanged as GST rates on EVs are the same.
Bajaj Auto announced that its two-wheelers will see price cuts of up to Rs 20,000, while three-wheelers will become cheaper by up to Rs 24,000.The company said all Bajaj and KTM models will reflect revised pricing after the reforms kick in.Royal Enfield, meanwhile, said bikes under 350cc such as the Classic 350, Bullet 350, Meteor 350, Hunter 350 and Goan Classic 350 will now be more affordable due to lower GST.
However, bigger bikes like the Himalayan 450, Guerrilla 450, Scram 440 and the 650cc range will get costlier as they attract a higher slab under GST 2.0.Industry experts believe these price cuts will not only help revive demand in the two-wheeler segment but also encourage first-time buyers during the festive season.
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